Senior Manager of Credit Risk

The Senior Manager of Credit Risk is responsible for the direction and execution of the organization’s underwriting and credit risk, including developing and implementing lending policies, ensuring compliance with regulatory and internal risk management frameworks, and aligning risk strategies with the organization’s goals.  This role will present accurate and insightful reporting on the status and trends of the Company’s loan portfolio to Executive Leadership and key stakeholders and ensure that the Underwriting team executes the review and approval process in collaboration with the Sales and Loan Operations teams.

Credit Risk Management

• Develops and implements credit policies and procedures that mitigate risk and align with industry standards and the organization’s mission.
• Establishes credit risk policy, alongside the Credit Risk Executive, aligning the credit risk framework, practices, and governance to both the strategic direction of Silverton and within an appropriate and compliant risk tolerance.
• Executes strategic direction of the credit risk management discipline ensuring appropriate and timely identification, measurement, monitoring and reporting of credit risk.
• Conducts thorough risk analysis and assessments to make informed credit decisions.
• Continuously monitors the company’s credit risk exposure and manages the credit portfolio.
• Works in conjunction with Post Closing, Capital Markets and Quality Control leadership to resolve trending credit policy issues identified internally and/or externally.
• Generates, reconciles, and mitigates areas of financial loan loss related to credit risk errors and gaps in process.
• Raises and reports known or suspected violations to the appropriate Company authority in a timely fashion
• Performs additional credit-risk related responsibilities as identified through expansion of eligible products, agency and investor relationships, and other growth-related initiatives.
• Works closely with other departments to ensure adherence to credit risk policies and procedures across the organization.

Risk Analysis, Modeling & Reporting

• Maintains credit dashboard and delivers monthly forecasting reports that provide clarity and transparency regarding quality and risk KPIs in product, sales, agency, aggregator and MI.
• Designs A/B tests to understand the risk-return trade-offs.
• Works with applicable stakeholders to track, report and determine root cause analysis behind indemnifications, recissions, EPDs, or repurchase requests.
• Performs pipeline stress testing & modeling scenarios by simulating different economic conditions to assess the potential impact on the mortgage portfolio and identify vulnerabilities.
• Works in conjunction with the Director of Valuation to review collateral valuation and sensitivity analysis.
• Oversees the development, validation, and refinement of risk models used to assess likelihood of borrower default.
• Oversees the evaluation and adoption of emerging data sources and tech-enabled solutions to drive automation, reduce fraud, and improve the efficiency of risk processes.
• Prepare Current Expected Credit Loss (CECL) narratives and ensure the finance team is informed on any significant portfolio changes.
• Assists Credit and Risk Executive in directing and providing oversight of the interpretation of credit analysis and reporting from each line of business regulatory agencies and the investment community.

Underwriting Operations

• Provides leadership, direction, and growth opportunities to members of the Underwriting department, performing those responsibilities in accordance with the Company’s policies and applicable laws.
• Oversees underwriting operations ensuring adherence to company guidelines, risk management strategies and regulatory compliance.
• Develops, updates and enforces credit policies and guidelines for underwriting standards to ensure consistency and compliance with regulations.
• Maintains and monitors Underwriting operating budgets seeking to continue to drive efficiency while maintaining quality standards.
• Works in conjunction with the Operations Learning and Development Manager to assist in formulating Underwriting training as well as manage and oversee credit authority within the Underwriting department.
• Proactively and regularly evaluates policy and internal overlays, ensuring it remains current and accurate, adapting it where appropriate to evolving business or environmental impacts, and making recommendations to ensure the appropriate risk posture is maintained.
• Manages agency and investor guideline updates to ensure any changes are appropriately documented within internal policies and procedures and communicated with applicable departments, including working with training on developing corresponding job aids or desk procedures.
• Works with Senior HR Leadership to develop and implement strategies to attract, retain and engage a highly skilled workforce, increase effectiveness, build diversity and enhance bench strength.  This includes, but is not limited to, performing skills gap analysis, recruiting, selecting, and developing talent, mentor sponsorships, growth opportunities and succession planning.

Leadership & Cross-Collaboration

• Informs HR Leadership of strategic business plan initiatives that require their support.
• Conducts peer analysis as appropriate.
• Coordinates and facilitates Silverton’s Credit Risk Committee and any applicable underlying sub-committees.
• Advises on final adjudication requests as appropriate given size, complexity, or special significance of such.
• Partners with designated teams to implement analytical solutions into production and ensure alignment with organizational goals.
   

Education:   Bachelor’s degree or equivalent experience required

Years of Related Experience:  Minimum 7 years prior relevant experience in underwriting, credit risk, or credit policy and governance in the mortgage industry.  Minimum 3 years of management experience.

Licenses/Certifications:  Direct Endorsement (DE); Staff Appraisal Reviewer/Lender Appraisal Processing Program (SAR/LAPP)

Silverton Mortgage is committed to a diverse and inclusive workplace. Silverton Mortgage is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, or other legally protected status.

Business Unit -